End-of-day gross settlement system: Difference between revisions
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imported>Administrator (CSV import) |
imported>Doug Williamson m (Spacing) |
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''Funds transfer.'' | ''Funds transfer.'' | ||
Funds transfer systems in which payment orders are received one by one by the settlement agent during the business day, but in which the final settlement takes place at the end of the day on a one by one or aggregate gross basis. | Funds transfer systems in which payment orders are received one by one by the settlement agent during the business day, but in which the final settlement takes place at the end of the day on a one by one or aggregate gross basis. | ||
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* [[Gross settlement system]] | * [[Gross settlement system]] | ||
* [[Settlement system]] | * [[Settlement system]] | ||
Revision as of 20:31, 13 August 2013
Funds transfer.
Funds transfer systems in which payment orders are received one by one by the settlement agent during the business day, but in which the final settlement takes place at the end of the day on a one by one or aggregate gross basis.
This definition also applies to gross settlement systems in which payments are settled in real time but remain revocable until the end of the day.
